Tyco Electronics Signs MOU with China Putian
Tyco Electronics Power Systems (Dallas, TX) and China Putian Corp. (Wuhan, China), a leading developer of telecommunications systems, signed a memorandum of understanding (MOU) for strategic cooperation on January 8, 2003. In the agreement, China Putian will sell and distribute Tyco Electronics Power Systems' telecom power products in China starting with the Galaxy Power Systems technology platform.
Wuhan Putian, a subsidiary of China Putian, will manufacture and integrate GPS products into its systems in accordance with Tyco Electronics' design and quality specifications. Tyco expects its efforts in China will account for a quarter of Power Systems' revenue by 2004.
"Our local presence in China will produce a more competitive offering to regional customers and reduce costs," said Mickey Miller, vice president of Tyco Electronics Power Systems. "This agreement combines China Putian's powerful brand, sales network and manufacturing expertise with our global experience and award-winning products. We're confident this alliance will continue to bring success in the growing Asian market."